Home Values

06840 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$1,368,000

  • 7.2% 1-year change
  • 1.5% 1-year forecast

The median home value in 06840 is $1,368,000. 06840 home values have gone up 7.2% over the past year and Zillow predicts they will rise 1.5% within the next year. The median list price per square foot in 06840 is $492, which is the same as the New Canaan average of $492. The median price of homes currently listed in 06840 is $2,000,000 while the median price of homes that sold is $1,227,000.

Foreclosures will be a factor impacting home values in the next several years. In 06840 2.5 homes are foreclosed (per 10,000). This is lower than the New Canaan value of 2.8 and also lower than the national value of 4.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 06840 is 6.0%, which is lower than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 06840 homeowners underwater on their mortgage is 4.0%, which is the same as New Canaan at 4.0%.

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Relative ZHVI
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06840 Market Overview

Data through Dec 31, 2014
  • $1,368,000 ZHVI
  • 1.5% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Dec 31, 2015)
  • $2,000,000 Median listing price
  • $1,227,000 Median sale price (Nov 30, 2014)
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06840 Market Health

Data through Dec 31, 2014
  • 5.0/10 Stable
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 4.0% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 6.0% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

2.5 homes(Nov 30, 2014) 06840
2.8 homes(Nov 30, 2014) New Canaan
4 homes United States
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Nearby Zip Codes

Name Median ZHVI
06820 $1,413,500
10576 $960,700
06897 $770,800
Name Median ZHVI
06903 $709,900
06905 $498,100
06907 $439,200
Name Median ZHVI
06906 $402,200
06851 $398,500
06850 $376,900

Listings & Sales

Data through Dec 31, 2014
  • $492 Median list price / sq ft
  • $393 Median sale price / sq ft (Nov 30, 2014)
  • 7.9% Listings with price cut
29.7%
Sold below listing
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06840 Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $6,215 06840
    $6,140 New Canaan
    $1,345 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 5.5 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • $2.18 Rent list price / sq ft
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